An annual pot of $52.1 million created Monday could help with debt repayment or transit infrastructure, after a majority of Calgary city council turned down entreaties from a handful of aldermen who wanted the money left in taxpayer pockets.

Council’s decision to take the tax “room” means the city’s side of the residential property tax will jump 13 per cent in the coming year. This follows the recent provincial budget that slashed the education portion of the property tax by 4.1 per cent.

Between the two, the total increase in property tax to Calgary ratepayers works out to 5.5 per cent — or $135 for the average homeowner.

The city council practice of taking “room” left by the province began in 2011. With Monday’s approval, it means the city will now be pulling in more than $104 million annually from the process.

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City’s property tax take to rise 13 per cent as council takes “room” left by province

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